Biglari Holdings Class B
76 hedge funds and large institutions have $333M invested in Biglari Holdings Class B in 2018 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 26 increasing their positions, 19 reducing their positions, and 15 closing their positions.
37% more repeat investments, than reductions
Existing positions increased: 26 | Existing positions reduced: 19
0.24% more ownership
Funds ownership: 88.52% → 88.75% (+0.24%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
1% less capital invested
Capital invested by funds: $336M → $333M (-$3.05M)
6% less funds holding
Funds holding: 81 → 76 (-5)
33% less first-time investments, than exits
New positions opened: 10 | Existing positions closed: 15
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$2.99M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$1.44M |
| 3 |
Goldman Sachs
New York
|
+$1.33M |
| 4 |
Dimensional Fund Advisors
Austin,
Texas
|
+$974K |
| 5 |
FM
Fondren Management
Houston,
Texas
|
+$764K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RRAM
River Road Asset Management
Louisville,
Kentucky
|
-$2.78M |
| 2 |
Millennium Management
New York
|
-$1.5M |
| 3 |
GI
GAMCO Investors
Greenwich,
Connecticut
|
-$1.09M |
| 4 |
JGC
J. Goldman & Co
New York
|
-$1.01M |
| 5 |
Norges Bank
Oslo,
Norway
|
-$976K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ZCM
76
Zebra Capital Management
Stamford,
Connecticut
| – | -$294K | -1,600 | Closed |
|
|
JIR
77
James Investment Research
Alpha,
Ohio
| – | -$213K | -1,160 | Closed |
|
|
CL
78
CSS LLC
Chicago,
Illinois
| – | -$202K | -1,100 | Closed |
|
79
SG Americas Securities
New York
| – | -$197K | -1,074 | Closed |
|
80
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
| – | -$89K | -486 | Closed |
|
81
First Manhattan
New York
| – | -$64K | -350 | Closed |
|
|
PCM
82
Prelude Capital Management
New York
| – | -$15K | -80 | Closed |
|
|
PIA
83
Piedmont Investment Advisors
Durham,
North Carolina
| – | -$3K | -16 | Closed |
|
|
STA
84
Summit Trail Advisors
New York
| – | -$2K | -10 | Closed |
|
85
US Bancorp
Minneapolis,
Minnesota
| – | -$1K | -7 | Closed |
|
|
ST
86
Sageworth Trust
Lancaster,
Pennsylvania
| – | -$1K | -6 | Closed |
|
87
PNC Financial Services Group
Pittsburgh,
Pennsylvania
| – | -$1K | -3 | Closed |
|
|
S
88
SignatureFD
Atlanta,
Georgia
| – | +$191 | +1 | New |
|
BH Hedge Fund Activity: Q3 2018 in Review
76 of the 4,375 institutional investors tracked by Wall St. Rank reported a position in Biglari Holdings Class B (BH) for Q3 2018, worth a combined $333M — down 0.91% from $336M a quarter earlier.
Sellers outnumbered buyers: 15 funds closed out of BH and 10 opened new positions — a net loss of 5 holders — while 19 trimmed existing stakes and 26 added.
The largest buyer was Vanguard Group, adding an estimated $2.99M. The largest seller was River Road Asset Management, cutting an estimated $2.78M.
- 76 institutional investors held Biglari Holdings Class B (BH) as of Q3 2018, down from 81 in Q2 2018.
- Funds reported $333M of Biglari Holdings Class B stock for Q3 2018, down 0.91% quarter-over-quarter.
- 10 funds opened new Biglari Holdings Class B positions in Q3 2018 and 15 closed out, a net change of -5 holders.
- The largest Biglari Holdings Class B buyer in Q3 2018 was Vanguard Group, an estimated $2.99M added.
- The largest Biglari Holdings Class B seller in Q3 2018 was River Road Asset Management, an estimated $2.78M sold.
Based on aggregated 13F filings for Q3 2018.